Your comments - costco executive membership is it worth itLatest responses to “Costco Executive Membership: Is It Worth It?”Copyright 2018, MoneyBlueBook.comBarbara says: 33827578232015-01-27T22:39:03-08:00BarbaraPremium membership is worth of money. You can get a lot of discounts and freebieschunk says: 12982594232013-12-09T10:03:14-08:00chunkso, if i sign up for both executive membership (2% back) and the costco AMEX (1% back), i would actually get 3% back?
$5K annually in purchases would net me $100 from executive membership and $50 from the AMEX?Phet says: 235610222013-09-17T21:10:32-07:00PhetI have a question.....
My ex husband and I joint executive before we separated. We stayed joint afterward and I went on to get car insurance with Ameriprise for myself. Two years later I decided to get my own executive acct. In less then six months I called Ameriprise and told them that I now have my own executive acct and asked them to link my insurance policy to my Costco acct. A year later I see that my insurance policy still has our old Costco acct on it. So in a case like this, which acct has been earning the rebate if there is any from having a policy with Ameriprise?TampaMom says: 3110607232013-03-07T18:25:30-08:00TampaMomRemember the Executive Reward, is completely seperate from the AMEX rebate. We just got $700 back from Costco AMEX in the form of a rebate check which we cashed at Costco, and then today got notice that we will receive $73 from Costco for our Executive Award. Had we not been Executive members, we still would have gotten the $700 AMEX cash back rebate, we just wouldn't have gotten an Executive Reward. A regular membership offers no reward. So as long as your reward from Costco's Executive Membership is greater than the cost of the upgrade, it is worth it.Bill says: 10829942011-10-19T11:05:07-07:00BillAnyone out there correct me if I'm wrong, but by my calculations, it seems the break even point for executive members who also have the Costco Amex card moves up from $2500 in purchases/year to $5000. Without the Amex card, you get back your executive membership fee($50) with $2500 in purchases, but considering you get 1% back with the Amex (with no fee), you get an additional $25 back at that spending level. So, with using the Amex card, you must spend at least $5000 to get $50 from Costco ($100 cash back minus the $50 for the executive membership fee), and to get $50 from Amex, which will cover the membership fee.Karmickreator says: 4697302011-03-16T02:54:34-07:00KarmickreatorTo Harvey calypso
First off, I apologize for my peers lack of discretion and privacy in your situation. As far as the public shaming comment made, please understand that this is not an intentional act and is most likely a result of a lack of proper training of these employees. You make some very valid points and I would suggest speaking with a front end manager in the warehouse you experienced this.
On a separate note sir, Your math seems a bit off to me. You said: "my net credit is really $80-$50=$30. $30 is .75% of $4000. ". You have failed to deduct the 2500 in purchases it took you to earn the $50 you also deducted. Algebra tells us we must deduct from both sides of the equation. In this case you omitted that. So your net $30 is profit was based on 2% of $1500 (your puchases that exceeded the $2500 break even point).
Mr calypso, we are a company whos primary goal is to take care of our members. If we can do this by not only saving them money on prices but also give them money back for their membership fees wouldn't you be even happier and most likely shop even more? This is the reason for a rewards based membership like our executive level. If you change your mind and want to give it a shot it's always available to you and is always risk free
Melanie says: 4697502011-02-08T19:46:25-08:00MelanieI agree with Harvey and Phil. The aggressive sales pitch at the checkout crossed the line into harassment long ago for me. I have asked repeatedly (>30 times) to not be asked again about this program, but my requests are ignored. When they start the pitch, I reply: "yes I know - I give you $50 now and then you give me my $50 back a year later; sorry not interested" but they continue to harass me about it. I have a great local grocery store that I also use and spend less than $2500/year at Costco. The rebate program is not worth it for me, but they keep asking. WTF. My Gold membership pays for itself based on the supplies I buy there. However, the stress of shopping at Costco is getting out of hand. I am quite sure that I will continue to be harassed while I am held captive at the register and I am on the verge canceling my membership over this issue.
Cramebame says: 4090702010-11-19T17:04:35-08:00CramebameAlso, as mentioned before dont forget about there other savings via Costco Travel, Auto Program, Auto/Home insurance, and many other various programs you can save so much money on these its a no brainer to stay a executive. Saving 1700-2200 on a car or truck, or 40-50 a month on car insurance pays for your 1 time a year fee even befor you get your check. Just ask the marketers at costco they can help you out.Karmickreator says: 4090802010-10-19T02:23:48-07:00KarmickreatorTo kb
John is incorrect as long as ur friend is already a member. However he is correct if ur friend is NOT a member. The exec checks are not linked to a membership. So this means if you lost ur check someone else could use it... Or if u prefer to give it to a friend you can... Provided they are a memberJohn Frykman says: 4089702010-10-14T18:24:25-07:00John FrykmanNo. It must be redeemed at a Costco store for cash. Of course, you can immediately convert it to a Costco cash card which can be used anywhere in the store--gas, pharmacy, liquor store, etc., and then give the card to the friend. Or you can give them more or less money on the card than the rewards check.
They do not need a membership to redeem the cash card for merchandise or cash.